US gold reserves surpass $1 trillion

The US Treasury’s gold reserves have surpassed $1 trillion in value — more than 90 times what’s stated on the government's balance sheet — as the precious metal breaks new all-time highs.

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The world’s biggest gold stash passed the milestone after prices rose above $3,824.50 an ounce on Monday, in a 45 per cent rally this year. Its official value, however, based on the $42.22-an-ounce price set by Congress in 1973, is fixed at just over $11 billion. Bullion has broken successive records this year as investors seek safety in the face of turbulence from trade war